ECB’s Stark rejects calls for higher inflation target

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Jürgen Stark, a member of the European Central Bank's (ECB) executive board, has attacked calls for central banks to consider higher inflation targets.

Stark told a conference co-hosted by the International Monetary Fund that the suggestions of its chief economist to consider a 4% target amounted to "nothing less than asking whether in the pursuit of price stability central banks put macroeconomic stability at risk."

He added: "There is no evidence whatsoever to support that deviating from price

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